This report provides a strong business case for wetland retention and restoration of the Black River subwatershed of the Lake Simcoe basin through its research on the ecological values of riparian wetlands and the economic impacts from the loss of these wetlands. The authors use measurements of the water quality implications of wetland loss and restoration to estimate the economic values of these wetlands, demonstrating that wetland conservation is an economically feasible option for preventing further environmental degradation in the Black River subwatershed, Lake Simcoe and southern Ontario